Price cap increases- To fix or not to fix?

I don’t think you can expect recommendations. The future is so very uncertain, not just because of what’s going on in the Middle East. You’re seeing better rates today because an unprecedented government intervention required suppliers to cut them, even ‘fixed’ ones. That means we can no longer regard fixed-rate tariffs as having fixed rates! Look, too, at the standing charges. In my region, the SC for a 1- or 2-year fix is 10p a day higher than the current variable rate. Will the government do something to bring them down? If they did, would that also apply to ‘fixed’ plans again? Of course, nobody knows, so we all have to make our own choices. Some of us will do better out of them than others, and your choice could well turn out to be better than mine.  

The best I can say is that if my fixed plan was ending this month then personally I would go to Standard Variable for now and keep a close eye on the Cornwall Insight forcast and what fixed rates are being offered at anytime.

Then depending on how I think prices may go I’d make a decision early in June wheteher to fix again or stay on SV, and again 3-months later, and …….

Remembering also that if you go to pay-on-demand rather than Direct Debit the next six months will be lighter use summer months. The on-demand SV tariff is slightly higher that the DD one though so you would have to weigh it up for your own usage numbers during the summer months.*

(Luckily for me my current fix doesn’t end until 27th August which gives me a bit more time to watch what is going to happen, and at the moment with the newly reduced rates my cost for ussage and SC’s is still slightly less than a new Standard Variable DD would be, and much less than the currently offered new fixes).

*BTW. The cheapest current tariff? You probably didn’t see it if you were looking at the fixes.
I’m not at all suggesting that you go this way but take a look at PAYG and compare it to the Standard Variable pay-on-demand/DD rates.

Hey ​@Goku, 

As Firedog and Nukecad pointed out, there’s a lot of uncertainty right now, and having the option to lock in your unit rates can really help you avoid any sudden price hikes, especially if you’re riding the waves on nimbus on a variable plan. 

Personally, I find that being on a fixed plan is much more comforting! It gives me peace of mind knowing exactly what my unit rate is, and I can easily keep track of my bills by managing how much energy I use. It’s all about finding what works for you!